Article Excerpt:
TWST: We'd like to begin with a brief historical sketch of Main Street Restaurant Group and a picture of the things you are doing at the present time.Mr. Shrader: The interesting thing about the Main Street Restaurant Group is that we not only changed our name last year, but we changed the total business mindset. We're a restaurant group that's made up very strongly by the TGI Friday's business. Main Street is the largest franchisee in the system. We currently operate over 52 TGI Friday's with one in construction as we speak. We also are the owner of the Bamboo brand, which we're very proud of. We currently have 12 operating locations. We also own the Redfish Restaurant Bar and Grill, which is a four store chain, and we are partners in a venture of Cooper'stown, which is a one-store operation that we have in Cleveland, Ohio. We are in the process of growing the Friday's brand; we just recently signed a six-year development agreement with the TGI Friday's folks where we will build 16 TGI Friday's, all of which will be built in the Southern California and the Arizona areas. They are two of our licensed areas and we have a strong representation in each one of those regions. Because of that, we hope to booster our market presence with the addition of adding 16. We would like to do more, and if things progress the way they are, we would hope that we could do that. We don't have any other business interests, so as you can see, we are a strictly restaurant-operating organization. Our ability to grow right now will be done with our own cash generation, and we're not taking on any new debt.
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